W2 Vs 1099 edi best

[jefferson1]

Title 

[Sucker]

Multiple jobs chesthe c2c

[Manikyam]

24 minutes ago, Sucker said:

Multiple jobs chesthe c2c

y

[chandrabhai7]

Rentiki diff endi in contracting world

[AverageDesiGuy]

W2 is FTE. 

[chandrabhai7]

8 minutes ago, AverageDesiGuy said:

W2 is FTE. 

1099 and c2c diff Enti 

[AverageDesiGuy]

7 minutes ago, chandrabhai7 said:

1099 and c2c diff Enti 

1099 can be either paid to a company (C2C) or a independent contractor. in both cases you are responsible to pay all the taxes. 

[chandrabhai7]

9 minutes ago, AverageDesiGuy said:

1099 can be either paid to a company (C2C) or a independent contractor. in both cases you are responsible to pay all the taxes. 

Endulo tax saving better 

[Telugodura456]

1099 - you get more money in hand now but pay taxes later.

w2 - you get your pay after full payroll deducttions. so you get less but you get to keep it.

you can ask your employer a little extra on 1099 because they save a little on payroll taxes.

[jefferson1]

3 hours ago, Telugodura456 said:

1099 - you get more money in hand now but pay taxes later.

w2 - you get your pay after full payroll deducttions. so you get less but you get to keep it.

you can ask your employer a little extra on 1099 because they save a little on payroll taxes.

Oh ok , great idea man 

[AverageDesiGuy]

6 hours ago, chandrabhai7 said:

Endulo tax saving better 

If you own a company go for C2C, you can save lot on taxes with expenses.

[signout]

6 hours ago, AverageDesiGuy said:

1099 can be either paid to a company (C2C) or a independent contractor. in both cases you are responsible to pay all the taxes. 

On W2 you get paid after taxes and 1099 you or company pay taxes. So there is difference 

[jefferson1]

On 4/13/2022 at 1:42 PM, Telugodura456 said:

1099 - you get more money in hand now but pay taxes later.

w2 - you get your pay after full payroll deducttions. so you get less but you get to keep it.

you can ask your employer a little extra on 1099 because they save a little on payroll taxes.

benefits ni ela select chekovali any iidea?

[chandrabhai7]

1 hour ago, jefferson1 said:

benefits ni ela select chekovali any iidea?

I did some research

1099 lo 15.3% ( social security tax , Medicare tax ) self employment taxes kattali when you file taxes. This is on top of federal tax 

 

where as in W2 you employer will have have to pay 7.3% and you have to pay 7.3% employment tax. So that’s why employer will ask for more Cut and run the pay  roll

 

but advantage with 1099 you can do some expenses like rentals or car gas and telephone internet etc and also you get to keep money for whole year and  pay taxes only next year

[Fish]

On 4/13/2022 at 11:28 AM, jefferson1 said:

Title 

W2